If you are reading this, you have probably realized that the war for talent is far from over and are wondering what to do.
That’s okay. I was there too…✋
The truth is, the demand for top talent is heating up and is coming in full force despite the spike in people looking for new opportunities in the past year.
It takes just a few glimpses at trend analyses of the talent market to realize that the situation is far from perfect 😬
We know that digitalisation continues to impact the way we hire.
The business world is changing so quickly that we are in constant need of talent with new skills and knowledge.
But the harsh reality is this:
There simply aren’t enough professionals with the required digital and technical skills that the new business environment demands.
According to Globeone “there will be a skills gap of up to three million qualified workers by 2030…😵
On top of that, the fact that we’ve been in the midst of a pandemic for the past year isn’t making matters any better…
For instance, recent data from The Global Recruiter reveals that while open positions appear to be increasing steadily, applicant numbers are not doing so well…
In fact, “candidate numbers dropped by 34 per cent in quarter one of 2021 when compared to the same time the previous year.”
Furthermore, additional data suggests that top talent has become more selective regarding the jobs they are willing to accept.
Highly skilled employees are simply reluctant to change jobs in fear of the unstable global situation.
If you think about it, all of this makes sense.
People want security and stability in uncertain situations. Offering equity incentive plans can be a powerful way to align employee interests with the company’s growth—and often tip the scale in their favor.
And now, more than ever they’ll be looking for employers that are trustworthy and have a good reputation.
Now, taking all of this into consideration, the situation may seem grim… 😑
However, I believe there is light at the end of the tunnel!
There is something that a lot of companies have started doing…
And it seems to be the only solution to help them in the war for talent…
“What is that something” I hear you say?
Building a strong employer brand!
Now, you may have no idea what I am talking about.
Or you might already be aware of employer branding, but in any case, let me elaborate on its meaning and benefits.
In simple terms, employer branding is all about marketing your company to prospective employees.
If you think about it, it’s very similar to how a corporate brand works…
The difference is that instead of providing a value proposition to potential customers, an employer brand focuses on your value proposition to your employees.
The market’s view of your company as an employer, as well as the promise you make to employees in favor of their expertise, talents, contacts, or experience, is what an employer brand is all about.
Now, you may be wondering, why is employer branding so important?
Help Retain Existing Talent
Having a reputation as a good and trustworthy employer will make your current employees proud to be part of your company!
They are going to be more engaged, happy with the company culture, and more productive.
They simply wouldn’t want to leave 💁
And what’s more, a significant proportion of them may be willing to get re-skilled, decreasing the need for a lot of new talent!
Attract The Right New Talent
Most applicants look at the online presence of your current employees to get a better feel for the workplace.
Having a strong employer brand will make your employees more likely to be advocates for your company.
They can even help you recruit the best talent as they will be spreading your good reputation online and offline! 😉
Minimize Recruitment Costs
Having an excellent employer reputation is also going to make great new talent come to you.
You’ll see an influx of great applicants because people will want to work for you!
This will reduce your recruitment costs as you wouldn’t need to spend resources trying to find new talent.
Now, you may be thinking, this is all great, but how do I develop a strong employer brand and reap all of its benefits?
Well.. the answer lies in none other than your most valuable resource…
Your employees.
Or, to be even more specific, through employee advocacy.
Employee advocacy is simply the method of promoting your brand authentically through your employees, typically on social media.
Greater Reach and Better Talent
Research suggests that people are 83% more likely to trust recommendations from someone they know than any other type of company content.
Furthermore, companies are more likely to attract and retain a better workforce if they already have more socially engaged employees.
So, not only are you going to reach more people…
But people are more likely to trust the content, and ultimately engage with it too!
Your employees’ social media accounts might well be the best job advertisements you have.
Even if not all of them are marketers or recruiters, you can be sure that they’re influencing your audience!
Not convinced yet? Well, let’s dive a bit deeper into the numbers 😏
According to MSLGroup, brand messages are shared 24 times more when shared by employees.
Additionally, they can reach 561 per cent further when shared by employees versus the same messages conveyed through the company’s social channels!
Now, you might be wondering, well, how do I best utilize employee advocacy then?
Well, I am glad you asked; the answer is through an employee advocacy program!
The truth is that traditional ways of finding new employees are no longer as effective and are also expensive.
People are increasingly using ad blockers and generally prefer ad-free environments, and yet data shows that AdWords CPC has increased on average by 14%.
By using an employee advocacy program, you can help your company activate a brand new authentic marketing channel.
You can create real brand influence by empowering your employees through an employee advocacy tool.
What makes an employee advocacy platform so great, you may ask?
Well, I can think of a few reasons…
An employee advocacy platform is, first and foremost, straightforward to use.
It also keeps your workforce informed and motivated about the company’s culture, values, and vision.
Such a tool allows employees to access and choose the most relevant and curated brand content they can share with their networks!
This can greatly help your company with talent acquisition.
And what’s more, according to Inc. Magazine, an employee advocacy program can result in a 5x increase in web traffic, 25% more leads, and a significant increase in brand awareness!
And last but not least, an employee advocacy program allows you to track its impact!
So..isn’t it time you started building your employer brand and utilizing employee advocacy? 💁
Those familiar with DSMN8 know that we help companies empower their employees to create and share company-focused content on social media. So, as you can imagine, we are entirely FOR employer branding and advocacy!
Your employees’ networks will be full of potentially great candidates for your organization.
As your most authentic social influencers, leveraging your employees’ collective influence is one of the most under-utilized resources for employer branding.
Are you prepared to demonstrate authenticity, promote transparency, and empower your employees to communicate?
More DSMN8 articles you might like:
DSMN8
The All-in-One Employee Advocacy Platform.
